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Understanding how we as humans make decisions is an important part of marketing. Behavioral economics is the study of decision making and can give keen insight into buyer behavior and help to shape your marketing mix. Marketers can tap into Behavioral Economics to create environments that nudge people towards their products and services, to conduct better market research and analyze their marketing mix.
Episodes
Tuesday Jun 29, 2021
Tuesday Jun 29, 2021
In this episode, we are considering asymmetric information. The term asymmetric information describes when one party in an economic transaction possesses greater material knowledge than the other party.
Definition Minute is a new subset of the Behavioral Economics in Marketing podcast. In these mini-episodes, I will define economic theories, in a minute or two. The topics will be review, introductory or discrete in nature.
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